Winners in the spotlight: Media coverage of fund holdings as a driver of flows

We show that media coverage of mutual fund holdings affects how investors allocate money across funds. Fund holdings with high past returns attract extra flows, but only if these stocks were recently featured in the media. In contrast, holdings that were not covered in major newspapers do not affect...

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Veröffentlicht in:	Journal of financial economics 2014-06, Vol.112 (3), p.53-72
Hauptverfasser:	Solomon, David H, Soltes, Eugene, Sosyura, Denis
Format:	Artikel
Sprache:	eng
Schlagworte:	Bias Financial economics Information processing Investment analysis Investment trusts Investors Media coverage Mutual funds Press Rates of return Studies
Online-Zugang:	Volltext
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